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Techwave is a global IT services and solutions provider headquartered in Exton, PA, with local offices in Europe, APAC, UAE, and South Africa. Our Global Delivery Center (GDC) is located in Hyderabad, India.

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April 29, 2019

Techwave

What is Freight Auditing and How Can It Help Enterprises?

When it
comes to logistics business, companies frequently face a number of challenges
that can be attributed to a lack of metrics, or a quantifiable way to
measure, track, and determine if freight bills are correct. Freight claim
resolutions become lost in the mire of doing business and lack of oversight and
visibility leads to freight overspending.

What is Freight
Auditing

Freight
audit and payment services can help a company prevent over-billing, negotiate
future shipping rates more successfully – and most importantly, choose
better transportation strategies along with the most efficient carriers.

Due to
complex rate/freight pricing system in the logistics industry, there are high
chances of carriers making mistakes in freight invoicing. Occasionally Carriers
even fail to meet service level agreement to deliver the shipments on
time.

Freight
auditing is typically provided by a third-party service and entails the careful
examination of carrier invoices. They hunt for billing errors, shipments that
were incorrectly classified, tariff weight breaks that were not applied, and
any other charges that can be recouped due to error.

Instead of
paying carriers more than you should, freight audit services can provide
real-time metrics that can reduce operating costs and increase billing accuracy
and compliance. Eliminate the middle-man and start managing and tracking your company’s
logistics channels with freight invoice auditing software.

Benefits of Freight Bill
Audit and Payment

Improved
accuracy when paying carriers

Simplified review
of carrier invoices

Save time and
money on shipping costs

Streamlines
the auditing of freight invoices

Easy comparison
of freight rates

Allows freight
bill post audit

Identifies
billing errors

Many times,
freight rates are negotiated before contracts are signed. But often, a detailed
freight audit will show companies paying more than the carrier’s quoted rate. You gain better control over transportation
costs with freight invoice auditing software that provides a
central repository for all shipping related negotiations.

Reduce the
cost of operations with freight and audit payment solutions that will automate
many of the manual processes that are time-consuming. Quickly look up rates and
approved invoices while general ledger codes are automatically assigned.
Save your accounting staff time and verify that payments are correct before
invoices are approved.

Expect
increased visibility for your management teams using technology to capture and
audit all details pertaining to shipments and your chosen freight carriers.
Track route combinations to optimize logistics and make better decisions that
can save money lost by shipping and invoice errors.

Freight
invoice auditing software can provide detailed reports for distribution. Bills
of lading, freight invoices, and delivery receipts can be viewed as custom or
standard reports and seamlessly integrated with ERP systems.

Stop wasting
money with outdated freight tracking programs by using state-of-the-art
technology that combines all your freight invoice and auditing in one web-based
platform or corporate-wide application.

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Techwave is a leading global IT services and solutions company revolutionizing digital transformations. We enable clients to maximize their potential and achieve a greater market with a wide array of technology services, including, but not limited to Enterprise Resource Planning, Application Development, Analytics, Digital, and the Internet of things (IoT).